International Millennium Mining Corp. (“IMMC” or the “Company”) announces that, subject to regulatory acceptance, it has entered into a Letter of Engagement Agreement with Integral Wealth Securities Limited of Toronto, Ontario.
North Vancouver, B.C. International Millennium Mining Corp. (“IMMC” or the “Company”) announces that, subject to regulatory acceptance, it has entered into a Letter of Engagement Agreement with Integral Wealth Securities Limited of Toronto, Ontario (“Integral”) whereby Integral would undertake to place subscription receipts, convertible into units of up to $3,000,000 of flow through (“FT”) units at $0.40 per unit and up to $2,000,000 of units (non-flow through) at $0.35 per unit upon IMMC attaining a listing on the TSX Venture Exchange. Each flow through unit is comprised of one FT share of the Company and one-half of one (½) FT Warrant, each whole FT Warrant entitling the holder to acquire one FT Warrant share for $0.45 for a period of two years from the date of issuance. Each non-flow through unit is comprised of one share of the Company and one full Warrant, each Warrant entitling the holder to acquire one Share for $0.40 for a period of two years from the date of issuance. Under the terms of the Letter of Engagement Agreement, Integral will be entitled to an 8% cash commission plus agent warrants equal to 10% of the units distributed pursuant to the offering. Gross subscription proceeds will be held in escrow pending the Company’s attainment of a TSX listing.
Integral Wealth Securities Limited is a national securities dealer that serves retail clients in Ontario, Alberta and British Columbia through six branch offices. Independently owned by its financial advisors and principals, the firm provides individual and family clients with objective financial advice and wealth management solutions. Integral’s corporate finance practice focuses on quality junior issuers, primarily in the energy and mining sectors.
New Director Dr. James M. Patterson
IMMC is also pleased to announce the appointment of James M. Patterson, BA (Hons), Ph.D., DIC, P.Geo, as a director to the Company. Dr. Patterson was Vice President, Exploration of FNX Mining Company Inc. of Toronto, Ontario, from April 2002 to May 2005, and is presently their Executive Consultant. He also serves on the board of several other public companies. Dr. Patterson, as a mineral industry professional, has extensive experience with major and junior exploration companies and consultant groups in Canada, Ireland, SE Asia and South America. He brings to the Company solid, executive level understanding of mineral exploration, mining development, investor relations, funding generation and environmental management.
Property Transaction Conditionally Accepted by TSX Venture Exchange
Cabo Drilling Corp. (“Cabo”) announced June 5, 2006, receipt of conditional acceptance from the TSX Venture Exchange for the sale of its Ontario mineral exploration properties (“Properties”) to IMMC. The Company and Cabo will complete the purchase and sale transaction for the Properties upon IMMC successfully obtaining a TSX Venture Exchange listing, IMMC completing a financing of no less than $2,500,000 of which no less than $1,000,000 would be expended on the Properties and final TSX Venture Exchange acceptance of the Company’s purchase of the Properties.
IMMC is presently completing its listing application for submission to the TSX Venture Exchange. Cabo’s receipt of conditional acceptance from the Exchange and the Company’s entering into the Letter of Engagement financing agreement with Integral Wealth Securities are important steps for IMMC in both the listing process and completion of the Properties acquisition.
International Millennium Mining Corp. is a mineral exploration and development company engaged in the acquisition and exploration of mineral properties in Canada and internationally. The Company has acquired and is exploring mineral properties in British Columbia, Canada; Nevada, USA; and Sonora State, Mexico. On December 15, 2005, the Company also executed a letter of intent with Cabo Drilling Corp. (“Cabo”) to acquire 100% of Cabo’s interest in four Ontario mineral properties. Emerging mineral targets include silver, gold, cobalt, molybdenum, zinc, lead, nickel, copper and platinum group metals.
ON BEHALF OF THE BOARD,
(signed “John A. Versfelt”)
John A. Versfelt
President & CEO
Further information about the Company can be found on SEDAR (www.sedar.com) or by contacting Mr. John A. Versfelt, President & CEO of the Company or Mr. D. Alex Caldwell, Corporate Secretary at 604-984-9907.
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This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, potential mineral recovery processes and other business transactions timing. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
